Departments and subsidiaries branches of ICB

Abstract

Investment Corporation of Bangladesh (ICB) is a statutory corporation. It is mainly an investment bank. An investment bank is a financial institution, which by selling securities and deployed funds to the detail economic unit's also buying underwriting securities. The establishment of ICB along with re-opening of DSE in the same year were two of the far-reaching measures taken by the government to, on the one hand, accelerate the pace of industrialization and on other hand, develop and well organized and active capital market, primarily security market. ICB has hold now three subsidiary companies as on July 1, 2002.1CB has adopted this new line of business policy for providing better management, better and quick customer services, in sum from specialization.The objective of the study is to gather knowledge that how ICB floats and manage the open ended mutual fund. The business of the open ended mutual fund is to mobilize savings from investors by way selling certificates and investing the funds in securities from the primary and secondary markets so as to ensure maximum return for certificate holders. It is invested in securities and money market securities as a single account.